There is a very nice analysis of the vulnerability by DeepEnd Research which is available here.
There are also instructions on how to disable the Java plugin in a variety of browsers available below.
Firefox
Chrome
Internet Explorer
Opera
Apparently Oracle are not known for timely fixes so hopefully in this instance they will make a special exception and expedite the patching process. This exploit is both potent and widely known about, which is a recipe for chaos if it is left unchecked.
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